How Private Equity Is Buying Up Golf Courses

In this episode, Lucas and Luna dive into the wave of private equity investment sweeping the golf industry. With over 15,000 courses in the U.S. and declining player counts, PE firms see opportunity in consolidating distressed public and semi-private courses into high-margin, membership-driven models. The hosts examine ClubCorp's roll-up strategy, the rise of golf entertainment venues like Topgolf, and the tension between investor returns and local access. Specific numbers like the 30% decline in public course rounds since 2010 and $2.5 billion in PE deal volume in 2024 ground the conversation. Luna challenges Lucas on whether this trend is good for the average golfer, and Lucas points to data showing greens fees rising 15% faster than inflation at acquired courses. The episode closes with a look at what the next five years might hold for the sport's backbone. #PrivateEquity #GolfIndustry #ClubCorp #Topgolf #RollUpStrategy #CourseAcquisition #GolfEconomy #MembershipModel #PEInvesting #BusinessConsolidation #GolfBusiness #SportsFinance #BusinessPodcast #FexingoBusiness #BuyoutShow #GolfCourses #DistressedAssets #RealEstate Keep every episode free: buymeacoffee.com/fexingo